IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-642-40072-8_80.html
   My bibliography  Save this book chapter

Study on Value Effect of Fund Management Based on GRE 3D Balanced Perspective: A Case Study of Listed Companies in Construction Industry and Real Estate Industry

In: Proceedings of 20th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Li Wang

    (Chongqing University)

  • Gui-wen Liu

    (Chongqing University)

Abstract

Fund management is an important part of enterprise finance management and is closely related to enterprise management strategy and financial management objective. This paper set listed companies in construction industry and real estate industry on stock markets of Shanghai and Shenzhen in China as the study sample, constructed an analytical framework of fund management effect based on 3D balanced perspective of EVA, growth and risk, investigated the fund management effect of domestic construction and real estate enterprises, and obtained useful information about economic development in construction industry and real estate industry. The methodology involves understanding the determinants of enterprises’ value creation through: (1) an extensive literature review; (2) collection of financial and managing data from listed companies; and (3) analysis of data to identify value effect of fund management that are more effective in real estate enterprises. Regression analysis reveals that the fund management effects are poor both in construction enterprises and real estate enterprises: there is significant negative correlation between value creation efficiency of enterprise and the enterprise scale, the resource allocation is unreasonable between short and long term assets, and economies of scale cannot be reflected. In path analysis on sub-samples, the previously significant correlation coefficients have become insignificant, showing that administrators of construction enterprises and real estate enterprises have not controlled the EVA, growth and risk well and the balance theory of income and risk has not been reflected. Contrastive analysis presents that fund and resource allocation and management level of construction enterprises and real estate enterprises is low in China at present, and fund management level of these two typical capital intensive industries should be improved urgently. Findings from this study could provide helpful guidelines for construction and real estate companies in developing countries. Recommendations for achieving future value creation are also provided.

Suggested Citation

  • Li Wang & Gui-wen Liu, 2013. "Study on Value Effect of Fund Management Based on GRE 3D Balanced Perspective: A Case Study of Listed Companies in Construction Industry and Real Estate Industry," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, edition 127, pages 797-813, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40072-8_80
    DOI: 10.1007/978-3-642-40072-8_80
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-642-40072-8_80. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.